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On 8 April, Zegona Limited entered into a deal contingent forward purchase agreement with Barclays Bank to hedge the full proceeds from the expected sale of Euskaltel,
S.A.U., a wholly-owned subsidiary of MasMovil Ibercom, made an offer to purchase the Euskaltel for €11.17 per share in cash on 28 March 2021.
Under the terms of the contract, Zegona will receive £370 million in respect of the expected proceeds of €428 million if the offer is successfully completed.
At 9:15am: (LON:ZEG) Zegona Communications Plc share price was 0p at 111p